Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 3.2% – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price was down 3.2% on Thursday . The company traded as low as $20.33 and last traded at $20.46. Approximately 9,646 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 93,109 shares. The stock had previously closed at $21.13.

Wall Street Analyst Weigh In

ORKA has been the subject of a number of analyst reports. Leerink Partnrs raised Oruka Therapeutics to a “strong-buy” rating in a report on Tuesday, September 17th. Leerink Partners started coverage on shares of Oruka Therapeutics in a report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research note on Friday, December 20th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Finally, Jefferies Financial Group initiated coverage on Oruka Therapeutics in a report on Friday, September 13th. They issued a “buy” rating and a $40.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Price Performance

The company has a market capitalization of $665.33 million, a price-to-earnings ratio of -3.04 and a beta of 0.78. The firm’s 50 day moving average is $23.74.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of Oruka Therapeutics during the third quarter valued at $343,000. The Manufacturers Life Insurance Company bought a new stake in Oruka Therapeutics during the 3rd quarter worth about $1,037,000. Wellington Management Group LLP acquired a new position in Oruka Therapeutics during the 3rd quarter valued at about $2,013,000. Janus Henderson Group PLC bought a new position in shares of Oruka Therapeutics in the 3rd quarter valued at about $5,840,000. Finally, Redmile Group LLC acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth approximately $10,091,000. 56.44% of the stock is currently owned by institutional investors.

About Oruka Therapeutics

ARCA biopharma, Inc, a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company’s cardiovascular science, ARCA’s management team has significant experience in developing and commercializing cardiovascular products.